S&P 500 looking very toppy

[Samson77]

Quote from spike500:

Don't fight the trend, because in the long run it is for 100% sure that you lose.

I'm not fighting any trend that I can see.

This is a pretty nuetral macro market 10000 - 10900

If I'm guilty of one thing it's trading smack dab in the middle of it but I'm not looking to knock it out of the park either.

 

[brokerboy]

Quote from Samson77:

Third time I've been stopped b/e sheesh

I feel for you this choppiness is killing me. You try to hold and not take fast profit and you keep losing alittle more. I told myself I will hold until close. I have a feeling it will drop down fast and not give people time to short. I hate this fucking market.

 

[rubberbird]

Quote from SWScapital:

The RUT has been LEADING the charge it has made more new highs..the SPX has not made as many..thats what leaders do...they LEAD.

The RUT closed at 640.44 on 1/3/05 and made new highs at 644.04 on 6/16, 644.2 on 6/17, 653.24 on 7/5, 662.14 on 7/8, 671.74 on 7/11 for a total so far on the year of 5 new highs.

The SPX closed at 1202.1 on1/3/05 and made new highs on 2/25 @ 1211.35, 1222.1 on 3/4, 1225.3 on 3/7 for a total of 3 new highs on the year.

RUT = 5 new highs so far in 05
SPX = 3 new highs so far in 05

Not here to argue...just talking facts.

Facts?? The S&P made 2005 highs, the Russell made All-time highs. There is a difference. Fact.

Loosen up, amigo. I'm just having alittle fun. The market is oh so boring. I haven't been stopped out of nothing...yet. The only thing i've been stopped out of..is excitement.

 

[Samson77]

Quote from brokerboy:

I feel for you this choppiness is killing me. You try to hold and not take fast profit and you keep losing alittle more. I told myself I will hold until close. I have a feeling it will drop down fast and not give people time to short. I hate this fucking market.

brokerboy - It is a tough one even I admit that, anyone else but a scalper would be felling the same I'm sure.

I'm just happy to be breaking even today and yesterday!

 

[rubberbird]

Quote from rubberbird:

speaking of H&S, is that one shaping up on the 5M S&P chart?? walther says 1:45 et is a trading time, so maybe the shoulder is a formin!!

Tell me the bird did not nail the hell out of this call!! What an unbelievable call by the bird! Yes, the bird can read intra-day charts as well!!

 

[SWScapital]

Quote from rubberbird:

Facts?? The S&P made 2005 highs, the Russell made All-time highs. There is a difference. Fact.

Loosen up, amigo. I'm just having alittle fun. The market is oh so boring. I haven't been stopped out of nothing...yet. The only thing i've been stopped out of..is excitement.

No doubt there is a difference between alltime and yearly highs. It`s just my humble opinion that the RUT`s all time highs have helped lead the others along.

Sorry if I came off like a tight ass...didn't mean to dirty the birds thread with my interjection.

BTW, if I wasn't a trend follower I would take a shot at a shorty here also..nice overhead resistance...good luck!

 

[PitchBlack]

Quote from Samson77:

I'm not fighting any trend that I can see.

This is a pretty nuetral macro market 10000 - 10900

If I'm guilty of one thing it's trading smack dab in the middle of it but I'm not looking to knock it out of the park either.

I must agree that the market is very difficult today. My profit is below 50% of an average day. Yesterday however was a good day.

In a market as today you can only make money in taking tops and bottoms.

 

[rubberbird]

Quote from SWScapital:

No doubt there is a difference between alltime and yearly highs. It`s just my humble opinion that the RUT`s all time highs have helped lead the others along.

Sorry if I came off like a tight ass...didn't mean to dirty the birds thread with my interjection.

BTW, if I wasn't a trend follower I would take a shot at a shorty here also..nice overhead resistance...good luck!

The bird's thread was sullied from the start. You didn't dirty it up. To the contrary, I appreciate anyone who can come in here and present a point of view. Kudos to you (for real)!

 

[Mvic]

Yes Tol is on my list but I am waiting for earnings, you know they are going to blow them out and the short opportunity will come right after earnings, probably in ah.

 

[PoundTheRock]

Quote from spike500:

Why do so many traders always want to go opposite to the trend?

Because that's what's worked for the past 2 years, although this time the rally has some clear sailing. Don't underestimate the stupidity of the mutual fund managers to keep buying when the perception is that everything is great.